Remarketing

ADESA Charlotte Receives Top World Omni/CenterOne Award

August 14, 2003

ADESA Charlotte won the 2002 "World Class Auction of the Year" award, presented by World Omni Financial Corp./CenterOne Financial Services ("World Omni/CenterOne"). The award is based on several factors, including volume sold, guide book performance, volume of certified cars per sale, volume of Internet cars, daily operational success, and the efficiency and accuracy of transportation and condition reports.

The award was presented to ADESA Charlotte GM Jane Morgan by Jay Hinchman, Director of Remarketing for World Omni/CenterOne on August 14. In 2002, ADESA Charlotte was one of the top-three volume sellers for World Omni/CenterOne, using Internet-based technology and live physical sales.

The awards ADESA has received from WOrld Omni/CenterOne strongly reflect the highest quality of detail and attention given to our account and the work ethic behind it," said Hinchman, noting that ADESA Charlotte has also received World Omni's 2000 and 2001 "World Class Cyberlot Auction of the Year" award.

Remarketing

Vehicles that were taken out of commercial, government, and daily rental fleets and sold at auction in July were worth 8.1% more than they were a year ago and 0.4% more than in June, according to Tom Kontos, KAR Auction Services' chief economist.

Used vehicle sales continued their strong performance in the wholesale market in July, as an "abnormal bounce" that began in June continued to show strength with overall values increasing in July 1.51% from the prior month, according to Manheim.

As an example of this analysis, Black Book data shows that the Toyota FJ Cruiser, whose last model-year was 2014, has actually gone up in value by 25.7% compared to other vehicles that were listed in its segment.

Off-lease fleet vehicles sold in the wholesale market at auction fell 1% in value in June from the prior month but increased 7% from a year ago, according to Tom Kontos, KAR Auction Services' chief economist.

Wholesale vehicle prices for former fleet vehicles at auction increased 0.8% in May from April and have increased 6.8% from a year ago in a "seasonally strong" market, according to Tom Kontos, KAR Auction Services' chief economist.

The initiative began in 2014, when the company first announced that its $400 million multiple-year project to transform its auction operations. In that time Manheim brought enhancements to both its physical and digital properties.

Wholesale prices for used vehicles up to 8 years old fell 1.7% month-over-month in May, a level that’s typical for this time of year, according to J.D. Power’s June Used Car and Light Truck Guidelines. Auction volume up 12% month-over-month, 2.6% year-over-year.

The Mercedes-Benz C-Class topped a list of the most recalled cars in recent model years, while the Hyundai Accent was the least-recalled vehicle during the same period, according to a report on ISeeCars.com.

Used compact vans and several categories of crossovers increased in value in wholesale sales, while luxury vehicles made up seven of the 10 lowest performing categories among 2013-2017 vehicles in May, according to Black Book.